This is an update for the S&P 500 Futures aka S&P E-Mini 15 minute chart concerning the reversal this morning.
Best case scenario: When I look at the S&P 500 futures chart and zoom in on the 15 min chart, I’m seeing a low of 2021 followed by a bounce to 2040. Ironically yes, we DID GET 382 Wave 4 in the S&P E-mini after the big reversal from the lows when they opened Sunday evening at 6PM..so yes we did IN FACT get 382 in a W4 which means any fade here in S&P is a 5th wave down before a potential bottom.
Worst case scenario: The disconnect between Emini S&P and the actual S&P 500 index shows a chart that HAS NOT hit 382 in a W4 and we’re still in a W3 down that has yet to drop to 1.618.
What I’m expecting: Any fade here could be just a 5th wave down to the reversal in the futures… I almost forgot about it ..strangely enough, but that 382 move was PRECISELY 382 in a W4 in the Emini so the bottom may have already occured post and pre market this weekend.